109年 - 109 國立高雄大學_碩士班招生考試_金融管理學系：財務管理#103044

科目：研究所、轉學考(插大)◆財務管理 | 年份：109年 | 選擇題數：0 | 申論題數：5

試卷資訊

所屬科目：研究所、轉學考(插大)◆財務管理

選擇題 (0)

申論題 (5)

A. Calculation and Q&A (100 points, 20 points for each question)
1. Explain the efficient market hypothesis.

2. Explain the difference between stock split and stock dividend.

3. A NUK Corporation bond has a 6 percent coupon rate and a $1,000 face value. Interest is paid semiannually, and the bond has 3 years to maturity. If investors require a 7 percent yield, what is the bond’s value? What is the effective annual yield on the bond?

4. Explain the pecking order theory and the trade-off theory of capital structure.

5. Suppose the NUK Corporation has decided in favor of a capital restructuring that involves increasing its existing $70 million in debt to $100 million. The interest rate on the debt is 8 percent and is not expected to change. The firm currently has 8 million shares outstanding, and the price per share is $40. If the restructuring is expected to increase the ROE (return on equity), what is the minimum level for EBIT (earnings before interest and tax) that NUK’s management must be expecting? Ignore taxes in your answer.